Nanofilm Technologies International's 2024 Earnings Outlook Appears Uncertain -- Market Talk

Dow Jones03-01

0326 GMT - Nanofilm Technologies International's 2024 earnings outlook appears uncertain, given headwinds including geopolitical tensions and inflationary pressures, UOB Kay Hian analysts say in a research report; they lower the stock's target price to S$0.60 from S$0.66 with an unchanged sell rating. Its industrial equipment business unit's performance is likely to be weak in the near term as one of the company's product lines is reaching market saturation, resulting in lessened growth prospects, the analysts say. Also, the unit's sales in China are still dampened, the analysts say. Although the nanotechnology solutions provider's new projects and initiatives point to a recovery, this may take some time, the analysts add. Shares are 5.0% higher at S$0.74. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

February 29, 2024 22:26 ET (03:26 GMT)

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Its industrial equipment business unit's performance is likely to be weak in the near term as one of the company's product lines is reaching market saturation, resulting in lessened growth prospects, the analysts say. Also, the unit's sales in China are still dampened, the analysts say. Although the nanotechnology solutions provider's new projects and initiatives point to a recovery, this may take some time, the analysts add. Shares are 5.0% higher at S$0.74. 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